A data management system for college students is now being implemented by The Universities Fund.
This mechanism will assist the fund in keeping track of the students who will get funding.
The technology will aid the board in controlling the number of university students, according to Geoffrey Monari, CEO of the agency, once it is put into place.
When we request data from institutions, Monari said, “sometimes they either increase or decrease the quantities we are required to finance.”
He was speaking to media during a workshop.
According to Monari, a number of additional education-related stakeholders are involved in the process to deploy the system.
“Knec (Kenya National Examinations Council) contains the information for students who received a C+ or higher and require financial assistance. Kuccps follows, which positions those.
The system will be operational by the start of the following fiscal year, Monari noted.
The UF will be able to keep tabs on university students’ development once the system is put into place.
By figuring out whether they finished the semester or deferred, they will be able to figure out how many students signed up for a semester.
Students who pass away will likewise be listed by UF, and support for that individual student will then stop.
Concerns about government-sponsored students being funded at private universities were addressed by the CEO.
He cited the fact that in 2020–2021, we sponsored 271,446 students at public institutions and 61,541 at private universities.
Budgets for private institutions were authorized at Sh2.7 billion, while those for state universities were approved at Sh41.9 billion.
Monari exhorted public colleges to look for alternative sources of revenue.
The accrued debt comprises, among other things, remittances, part-time lecturers, Sacco, and contractors, according to information obtained from the funding agency.
The universities owe suppliers Sh4.8 billion, part-time lecturers Sh4.5 billion, contractors Sh1.4 billion, Sacco contributions Sh4.1 billion, and part-time lecturers Sh4.8 billion.
“NSSF is owing Sh139 million; NHIF is owed Sh2 million; loan deductions totaling Sh1.3 billion; pension plans are owed Sh18 billion; and PAYE is owed Sh13 billion; other loans have amassed Sh10 billion,” he said.
According to Monari, reliance on government funding is risky because there is never enough money available due to the rising number of students attending colleges.
For instance, the board anticipates an increase of 52,195 government-funded pupils while the 2022 KCSE students wait to begin their exam.
According to Monari, there is a financing need of Sh32 billion for the 145,145-student class of 2022 and Sh12 billion in available finances.
The board is unable to meet the requisite finding percentage, according to the UF chief executive.
According to the differentiated unit cost (DUC) funding approach, the government is intended to cover 80% of the costs while universities are responsible for the remaining 20%.